From 2013 to 2023, Poland's Financial Services and Insurance Gross Value Added (GVA) showed fluctuations, peaking significantly in 2022, with a sharp increase of 56.79% from the previous year. However, this was followed by a steep decline of 21.19% in 2023, placing the value at 24.0 billion Euros. Over the last two years, the average year-on-year variation was volatile, averaging 17.8%. The five-year compound annual growth rate (CAGR) leading to 2023 stood at 4.91%.
Looking ahead, forecasts predict steady growth, with the GVA expected to reach 29.36 billion Euros by 2028, representing a five-year CAGR of 3.19%. The forecasted five-year growth rate is 16.99%, indicating a more stable upward trend than the previous decade.
Future trends to watch for:
- Technological advancements driving efficiencies and new service models in financial services.
- Increasing regulatory requirements affecting operational costs and compliance efforts.
- Potential market consolidation and competition from non-traditional financial players.
- Economic conditions and their impact on consumer confidence and investment activities.
